BDO names new regional head of audit
Accountancy and business advisory firm BDO has announced a new head of audit in the Midlands.
Jon Gilpin will take on the role, which is effective from 1 July 2022, and will lead the region’s 150-strong audit practice as Kyla Bellingall steps into her new position as regional managing partner in the Midlands.
Jon joined BDO in 2017 as an audit partner in Birmingham and has worked with ambitious businesses across a range of industries. He has carved out a specialism in the manufacturing sector and has established a voice as a champion of the region’s manufacturers. Jon will oversee the audit practice in its role as leading adviser to the AIM market in the Midlands and the team will continue to focus on working with entrepreneurial mid-market and listed businesses.
BDO, which has offices in Birmingham and Nottingham, has experienced strong growth in the Midlands, increasing headcount in the region by 20% in the past 12 months. Underpinning this expansion has been developing specialist teams in the regions with the skills, attributes, and experience to help clients succeed. The firm has just announced a long-term commitment to the Midlands, having invested in a new office in Nottingham city centre in addition to its Birmingham base.
Speaking of his appointment, Jon Gilpin said: “In the five years I’ve been with BDO, we’ve seen huge changes in the market as businesses have demonstrated ingenuity and tenacity to overcome new challenges and rethink the way they work. Our own team has also transformed during this period and we’re proud to support so many of the region’s most impressive businesses.
“One thing which remains a constant at BDO is our culture, which allows our people to thrive and is the key to the firm’s success. My passion is helping our people and clients succeed and I’m excited about how I can continue to do this in my new role.”
Head of BDO in the Midlands, Kyla Bellingall added: “It is fantastic to be able to announce Jon’s new role today as we continue to invest in our people in the region. Businesses face ongoing uncertainty, but our clients have remained resilient and require best-in-class advisers to help them navigate any challenges and unlock opportunities. Jon’s appointment reflects this demand and I look forward to seeing what he goes on to achieve in his role.”
East Midlands business confidence remains positive despite dip
Business confidence in the East Midlands fell two points to 23% in June, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in the East Midlands reported higher confidence in their own business prospects month-on-month, up seven points at 27%. When taken alongside their optimism in the economy, down 11 points to 19%, this gives a headline confidence reading of 23%.
East Midlands businesses flagged a range of growth opportunities for the next six months, including evolving their offering with a new product or service (44%), investing in the growth and development of their team (37%) and making their operations more sustainable (28%).
The Business Barometer, which questions 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
A net balance of 16% of businesses in the region expect to increase staffing levels over the next year, up one point on last month.
Across the UK, business confidence fell 10 points during June to 28%. Firms’ optimism in the economy dropped 12 points to 21%, while their outlook on future trading prospects was down eight points, at 34%. The net balance of businesses planning to create new jobs also decreased, by nine points, to 28%.
Every UK region and nation reported positive confidence readings in June. However, all except the East of England (up 17 points to 31%) recorded a lower reading than last month. London (down 28 points to 35%), the West Midlands (down 23 points to 30%) and Scotland (down 15 points to 27%) reported the largest decreases month-on-month, with the North West (down two points to 42%) now the most optimistic region overall.
Dave Atkinson, regional director for the East Midlands at Lloyds Bank Commercial Banking, said: “Despite the challenges businesses face, confidence across the East Midlands remains robust and the outlook positive. Firms are looking to innovate, develop skills, and make their operations more sustainable, highlighting their confidence to invest in mid-to-long-term growth opportunities.
“Businesses should explore different support options as they pursue these new growth opportunities. For example, the focus on sustainability has grown since last month and I expect this trend will continue as we head towards our Net Zero goals. Using tools like our Clean Growth Finance Initiative could help businesses introduce more energy-efficient measures and create a more sustainable way of operating. We’ll be by the side of businesses across the region as they explore these options and look forward to a more positive future.”
Confidence among businesses in the manufacturing and construction sectors fell, bringing them close to the UK all-sector average, at 32% and 30% respectively, reflecting lower optimism in the economy. Service sector confidence declined to its lowest in a year, at 25%, showing weaknesses in hospitality, though offset by stronger confidence in business services. Confidence in retail businesses edged up this month four points from 27% to 31%.
Hann-Ju Ho, senior economist, Lloyds Bank Commercial Banking, said: “Business confidence declined this month, suggesting that the momentum for growth is moderating. Firms remain broadly positive but face several challenges ahead, including concerns around higher costs and slowing demand. If these trends continue, businesses may have less scope to pass on higher costs to support their margins.”
Double appointments for Derbyshire construction firm
Following a series of new contract wins, Derbyshire building specialists, Enrok Construction, has further expanded its team with two new hires.
Dean Johnston joined the team in May as a site manager in Nottingham with assistant quantity surveyor, Charlie O’Grady, who will work across Enrok’s projects nationwide. Originally from a bricklaying background and with over 30 years’ experience in the construction industry, Dean has a particular interest and passion for restoration and refurbishment. His previous projects have included renovating the French Consulate into luxury apartments and turning Stanley House in Nottingham into 100+ student flats.
Leicester City Council welcomes new director of inward investment and place marketing
Leicester City Council has appointed Mike Denby as director of inward investment and place marketing.
With full responsibility for inward investment and place marketing activities for Leicester and Leicestershire, Mike will play a key role in the regeneration of commercial development sites across the city and county, attracting investment from new to area businesses and creating employment for local residents.
Mike will also be instrumental in the external promotion of the city as a leading tourism destination, building on the work of Visit and Meet Leicester.
With over nineteen years of marketing experience and a decade working as the lead for inward investment for Wakefield City, Mike brings with him a strong skill set and an excellent reputation for relationship building with developers and key partners.
Mike joins at a key point in Leicester’s place shaping agenda and will bring a wealth of experience, having previously led teams to secure funding valued up to £44m to assist with the development of commercial sites and oversaw the build of Wakefield’s first innovation centre. Mike also has previous experience in developing policy to stimulate carbon reduction, encourage strategic investment and increase business start-ups
Commenting on the appointment, Mike Denby said: “The transformation of Leicester has been significant over recent years, thanks to a strong public and private collaboration.
“The recent regeneration and promotion of our city and county is a great example of how meaningful, sustainable change can be delivered for our residents and local businesses.
“I look forward to further raising the profile of this great city and county, both nationally and internationally as a destination that is open for business.”
Cawarden honoured with family business award
Derby-based Specialist Contractor, Cawarden, has received a major award at an awards ceremony that celebrates the UK family business sector.
Cawarden was announced as the Midlands and Central Family Business of the Year by Rob Davies, senior affiliate at BanyanGlobal. They also came runner-up in the Property & Construction Family Business of the Year and Midlands & Central People’s Choice Family Business of the Year.
The awards took place in an online premiere airing on YouTube which brought the British family business community together to celebrate the very best of the sector.
Businesses were judged against criteria including the roles family members play in the day-to-day running of the business, family values and the positive impact delivered to the wider community through philanthropic activities.
William Crooks, Cawarden Managing Director, said: “It’s fantastic to be chosen as the Midlands and Central Family Business of the Year winner as well as being a runner up in two other categories. It means so much to my whole family and the wider Cawarden Family. We hope our family business serves as an inspiration to other family businesses out there.
“This award is a testament to everyone’s hard work and I’m delighted by our success. We will be able to look back on this achievement with immense pride and it will form a wonderful milestone in our rich heritage which all started from very humble beginnings. A huge thank you and well done to the entire Cawarden team – our award success would not have been possible without you!”
Paul Andrews, founder & CEO, FBU, adds: “Cawarden is a fabulous family business with purpose and values at its core. The judges were really impressed with their submission and the journey that they have been on as a family and as a business. There is a real ethos of ‘family’ throughout the business and a real purpose to excel at what they do.
“This is a pioneering family firm that is recognised as a leader in their sector and the fact that multiple generations of families have worked in the business speaks volumes for the culture that has been created and the way that they look after their staff. Cawarden has come a long way and continues to strive to do more, driving excellence through investment and improvement and are worthy winners of this award.”
The Family Business of the Year Awards were created by Family Business United (FBU) to celebrate the UK family business sector, to recognise the diversity of family firms across the country and to celebrate the contribution that they make.
Carlsberg fined £3m following ammonia gas leak in Northampton
Carlsberg has been fined £3 million after a contractor died and another was seriously injured following an ammonia gas leak at one of its breweries.
The incident happened at Carlsberg’s site in Northampton. An investigation by the Health and Safety Executive (HSE) found Carlsberg hadn’t put proper controls in place.
David Chandler, 45, was killed and David Beak, now 57, was seriously injured.
David Chandler was a father of two, from Bridge North, Shropshire. His family said they welcomed the end of the case against Carlsberg and hoped no other families would have to suffer as they have.
Birmingham Crown Court heard that at its Northampton brewery Carlsberg had failed to put in place appropriate isolation controls to prevent exposure to ammonia before work started to remove a compressor from a refrigeration system.
The Principal Contractor for the project was Crowley Carbon UK Ltd, which had appointed numerous contractors to assist in the works.
On 9 November 2016 while the compressor was being removed, there was a large, uncontrolled release of ammonia.
David Chandler and David Beak were both employees of sub-contractor Speedrite NE Ltd.
Twenty people needed hospital checks after showing symptoms of ammonia exposure. It was several days before the leak was contained and gas levels dropped to a safe level. David Beak, of Failsworth in Oldham, was seriously injured.
Carlsberg Supply Company UK Ltd, who were summonsed under their new company name of Carlsberg Marston’s Brewing Company, pleaded guilty to charges under Section 2(1) and Section 3(1) of the Health and Safety at Work etc. Act 1974, and Regulation 3(1) of the Management of Health and Safety at Work Regulations 1999. The company was fined £3 million with costs of £90,000.
Mr Chandler’s family, in a statement, said: “We welcome the conclusion of the prosecution case against Carlsberg UK Supply Company Ltd following the death of David five and half years ago.
“As a family we will never fully accept the death of David in such tragic but preventable circumstances and the legal process involved has been emotionally exhausting as well as frustrating given the length of time which has lapsed since the accident.
“We are pleased that improvements have been made at Carlsberg’s site in Northampton which will hopefully ensure no other families suffer the anguish we have endured since November 2016 when the failings at the brewery resulted in the deadly release of ammonia gas which caused David’s death.
“David was a loving husband, adoring Daddy and much-loved brother and Uncle. We are devastated that his young family will not be able to share their lives with him as they grow. He was a larger-than-life character whose loss has left a massive void nothing can replace.
“There have already been so many special and precious moments which David has missed out on and the fact that there will continue to be some many more as his daughters grow into young ladies breaks all our hearts daily. He is missed every day, and our lives will not ever be the same without him.”
HSE principal inspector Samantha Wells said: “Industry guidance on safe isolation of plant should have been followed. This would have ensured that a higher level of isolation was in place, for prevention of exposure to this highly toxic and flammable substance.
“Both the client, Carlsberg, and the Principal Contractor should have worked together to ensure that the risk was adequately managed. Not only Carlsberg had a duty here. There was also a very clear duty on the Principal Contractor.
“This underlines the dangers of not following industry guidance when working with toxic and flammable substances – HSE will take action against all who fail to ensure the safety of employees and others who may be exposed to danger.
“Projects involving multiple contractors require effective management arrangements, so it’s clear who is responsible for every part of the work and that safety checks are carried out before allowing work to start.”
The Health and Safety Executive also brought a case against Crowley Carbon Ltd in relation to the incident which led to the death of Mr Chandler and the injuries to Mr Beak, which were also due to be tried but for the company being placed into compulsory administration by creditors.
Sale of Boots taken off the table
Walgreens Boots Alliance (WBA) has decided to keep Boots under its existing ownership, marking the conclusion of a review that began in January and saw multibillion pound bids put forward for the company.
WBA said that while it has been encouraged by productive discussions held with a range of parties, receiving significant interest from prospective buyers, since launching the process, the global financial markets have suffered unexpected and dramatic change.
As a result of market instability severely impacting financing availability, no third party has been able to make an offer that adequately reflects the high potential value of Boots.
WBA has therefore decided that it is in the best interests of shareholders to keep focusing on the further growth and profitability of the business.
The decision to retain the business has also been supported, according to WBA, by ongoing strong performance and growth, which have exceeded expectations despite challenging conditions.
Rolls-Royce enters the hydrogen production market and acquires majority stake in electrolysis stack specialist
Rolls-Royce is entering the hydrogen production market and acquiring a 54% majority stake in electrolysis stack specialist Hoeller Electrolyzer, whose innovative technology will form the basis of a new range of mtu electrolyzer products from its Power Systems division.
Hoeller Electrolyzer, based in Wismar, Germany, is an early-stage technology company that is developing highly efficient polymer electrolyte membrane (PEM) stacks, under the brand name Prometheus, for the cost-effective production of hydrogen.
Hydrogen is an increasingly attractive power source to fuel the green energy transition and demand for ‘green’ hydrogen – whose production creates no CO2 – is expected to rise significantly.
It is needed for fuel cells and hydrogen engines, for the production of synthetic ‘drop-in’ fuels and for industrial processes that currently use hydrogen that is not created in a carbon neutral process. Consequently, high-performance electrolyzers are a key component of any hydrogen system.
Dr. Otto Preiss, COO and chief technology officer, Rolls-Royce Power Systems, said: “By developing our own mtu electrolyzers and by taking a majority stake in Hoeller Electrolyzers, we are methodically growing our hydrogen portfolio and securing access to this fascinating technology, which is not a pipe dream but has great market potential.
“This will enable us to supply complete hydrogen solutions and make a significant contribution to protecting the climate. Our complete hydrogen solutions will enable customers to store renewably produced energy in the form of hydrogen for use as and when required, or for further processing or onward sale.”
In hydrogen electrolysis, water is subjected to DC electrical current, producing hydrogen at the negative pole and oxygen at the positive pole. In this way, it is possible to produce carbon-neutral hydrogen by using electricity from renewable sources such as solar or wind. The electrochemical reaction takes place in a cell between plate-shaped electrodes separated by membranes. Hundreds of cells located one above the other and pressed together form a ‘stack’, the heart of an electrolyzer.
Founded in 2016, Hoeller Electrolyzer has positioned itself, with Prometheus, as one of the few highly specialized expert players in the field of high-efficiency PEM electrolysis stacks. Its founder, Stefan Höller, has more than a quarter of a century’s experience of developing electrolysis technology and has already registered 14 patents connected with Prometheus.
Particularly high efficiency is promised by special surface technologies for the bipolar plates which significantly reduce the use of expensive precious metals platinum and iridium as catalysts, as well as increased output pressure.
Stefan Höller, Managing Director, Hoeller Electrolyzer, said: “Our stack is going to produce hydrogen at a price not previously thought possible.”
Rolls-Royce and Hoeller Electrolyzer say they are united by a shared belief in the opportunity of zero-carbon energy – both for power supply and the propulsion of heavy vehicles. With decades of experience and systems expertise, Rolls-Royce is going to develop a complete electrolyzer system and has a global sales and service network, which opens up the potential for significant worldwide sales.
Matthias Kramer, CFO and joint Managing Director, Hoeller Electrolyzer, said: “In Rolls-Royce, not only have we found an important customer for our stacks, we’ve also secured an ideal partner and supporter who shares our vision of putting stacks into full production.”
Development work on the first mtu electrolyzer using a stack from Hoeller Electrolyzer is already underway.
The equity in Hoeller Electrolyzer now held by Rolls-Royce comes from departing minority shareholders and from an increase in share capital. Financial details of the transaction are not being disclosed. Stefan Höller and Matthias Kramer will continue to lead Hoeller Electrolyzer as a standalone company, with the goal of building a leading international stack manufacturer.
Plans to build up to five new train stations in Derbyshire steam ahead
Two projects to reopen existing rail lines to passengers bringing the potential to build up to five new train stations in Derbyshire are steaming ahead with project leaders working with Network Rail to get the plans moving.
Just a handful of projects nationally have been invited to submit an outline business case for funding as part of the government’s £500 million Restoring Your Railway programme to reinstate closed local rail services and restore former stations.
Derbyshire County Council are working with South Yorkshire Mayoral Combined Authority and Network Rail to develop the business case to reopen the current, freight-only Barrow Hill line between Chesterfield and Sheffield to passengers.
If the outline project gets the green light, at the next stage it will signal the start of work to reintroduce passenger trains on the line and build up to four new stations in Derbyshire at Whittington, Staveley Barrow Hill, Eckington / Renishaw, and Killamarsh.
A new station could also be on the cards for Castle Gresley now proposals to reopen the Ivanhoe Rail line from Burton-on-Trent to Leicester are being progressed, with funding provided to Network Rail to carry out more work there too. Derbyshire County Council have supported the application led by local interest group Campaign to Reopen the Ivanhoe Line (CRIL) and Leicestershire County Council.
Derbyshire County Council cabinet member for infrastructure and environment, Councillor Carolyn Renwick, said: “This is all part of the Levelling Up agenda and we’re pleased that Government has recognised the need to reintroduce passenger services along these two routes.
“Significant new employment and housing development is already planned along the Barrow Hill Line route with long-overdue investment in this part of Derbyshire kick-started by the Staveley Town Deal.
“Re-opening both lines would build on this momentum, making it easier for people to travel to work, education, and healthcare, cutting congestion, improving air quality, and promoting greener travel as part of our commitment to cut carbon emissions to help tackle climate change.”
It is anticipated that the next stage of work by Network Rail should take approximately four months to complete.
Freeths bolsters employment practice with raft of new lawyers
Law firm Freeths has further expanded its national employment team with a number of strategic appointments – including two in the East Midlands.
The team has been bolstered by Lee Ashwood (director) joining the Manchester office, Melanie Morton (managing associate) joining the Nottingham office, Jesse Tataobuzogwu (associate) joining the Leicester office and Rajvir Malhi (associate) qualifying into the Milton Keynes office.
Rena Magdani, national head of employment, pensions & immigration, said: “I’m delighted to welcome Lee, Melanie, Jesse and Rajvir to the team. These four new hires reflect the continued growth and success of our employment practice, which is nationally recognised for providing highly responsive, commercial and pragmatic advice to our valued clients.
“We have seen a significant increase in demand for our services since the pandemic and in light of the challenging economic conditions that employers are facing. We are actively looking to recruit and develop further high calibre lawyers across our offices nationally.”
Melanie Morton said: “I am very excited to have joined Freeths, a firm with an excellent reputation both for the quality of work undertaken and its own workplace culture. The employment team at Freeths is very well regarded nationally and I am looking forward to working within a Legal 500 Top Tier department that is clearly committed to working in partnership with clients to provide a prompt and valuable service. The welcome from my colleagues has been great and I look forward to continuing my career here.”
Jesse Tataobuzogwu added: “Freeths has always been a firm I have admired due to its highly regarded lawyers and calibre of clients that it acts for. I am thrilled to have joined this fantastic firm and to be able to contribute towards its continued growth.”
